The New Zealand arms of ANZ and the Commonwealth Bank have been hit with a multimillion dollar class action alleging they have failed to repay fees and interest wrongly charged to 150,000 customers who took out home or personal loans with the banks.
Prosecutors have told a court they are nearing deals with a number of individuals accused of criminal charges in its cartel case against Vina Money Transfer.
Personal lender ClearLoans has lost its bid to strike out claims in ASIC’s first case related to the COVID-19 pandemic after a judge found the regulator’s action, which accuses the lender of breaching the hardship provisions of the credit laws, was “sufficiently clear”.
A judge overstepped in throwing out a class action against two National Australia Bank units over alleged MySuper mismanagement because of a carveout in the Victorian Supreme Court Act which bars class actions involving trust property, an appeals court has heard.
A retired financial planner has filed a lawsuit accusinf AMP of using “unfair tactics” to avoid coughing up close to a million dollars allegedly owed under a buyout option exercised in November 2019.
A judge has issued a stern warning to litigation funders seeking to take a “gamble” on pending court proceedings, ruling they could be held liable for costs if their intervention proves critical to the advancement of the case.
A Forum Finance director is unable to file a defence against Westpac’s $400 million fraud case because his former solicitor has refused to hand over case files to his new lawyers until he pays a “remarkable” $300,000 legal bill, a court has heard.
Investors have won a bid to freeze the assets of cryptocurrency exchange platform operator Blockchain Global after it allegedly stole $10.3 million from ninety-four traders.
Investment firm Keybridge Capital has brought action in court seeking to set aside a statutory demand for $165,000 issued by its former law firm and calling for an assessment of over $600,000 in legal bills.
A judge has questioned whether he should allow prosecutors to amend charges against ANZ and its treasurer in a criminal cartel case over a $2.5 billion share placement after the bank argued the charges were defective and should be quashed.